Real EstateRSS

  • January 24, 2012

    Goldman Sachs RE Arm Picks Up $44M NC Office Portfolio

    The real estate investment arm of Goldman Sachs Group Inc. has acquired a portfolio of six North Carolina office properties from Duke Realty Corp. for $44 million, a Duke official confirmed Tuesday.

  • January 24, 2012

    Citigroup Targeted Over $1B In Subprime CDOs

    Loreley Financing Ltd. launched yet another suit against issuers of collateralized debt obligations Tuesday, this time suing Citigroup Global Markets Inc. over nearly $1 billion in CDO investments backed by subprime mortgages at the end of the housing bubble.

  • January 24, 2012

    Excel REIT Rounds Out $166M Ariz. Property Deal

    Retail real estate investment trust Excel Trust Inc. has purchased a Scottsdale, Ariz., office property for $56 million, completing a $166 million mixed-used property deal, an agent advising the seller said Tuesday.

  • January 24, 2012

    Boston Developer Seeks $50K Fine In Campaign Cash Case

    Boston real estate mogul Arthur Winn, who pled guilty in November to reimbursing friends and family for $4,500 in campaign contributions made to Massachusetts politicians to garner support for development projects, on Monday sought sentencing in the form of a $50,000 fine and no jail time.

  • January 24, 2012

    Q&A With Anderson Kill's Kevin Connolly

    Many owners and developers mistakenly erect a wall between their legal team and their risk-management team. The contract documents written by the lawyers should be crafted as tools of risk management, says Kevin Connolly, a shareholder in Anderson Kill & Olick PC’s real estate and construction practice group.

  • January 24, 2012

    McGlinchey Defuses $10M Suit Over Bomb Range Development

    A Louisiana federal judge on Monday nixed a $10 million suit accusing McGlinchey Stafford PLLC of malpractice, negligence and securities fraud for failing to ensure the completion of an environmental assessment on a proposed residential development that turned out to be located on a World War II-era bombing range.

  • January 24, 2012

    Jilted Developer’s $2.5M Win Against Principal Scrapped

    A Texas appeals court on Monday scrapped a $2.49 million award to a real estate developer that sued Principal Life Insurance Co. after losing out on a deal for a shopping center, finding no evidence of a binding oral contract between the parties.

  • January 23, 2012

    John Hancock Targets JPMorgan Over Toxic RMBS

    John Hancock Life Insurance Co. sued several units of JPMorgan Chase & Co. on Friday, accusing the bank of misleading investors into buying toxic residential mortgage-backed securities.

  • January 23, 2012

    Morgan Stanley Faces Sealink Suit Over $556M In RMBS

    Morgan Stanley & Co. Inc. was hit with a lawsuit Friday by Ireland-based Sealink Funding Ltd. accusing Morgan Stanley for concealing the low quality of $556 million in residential mortgage-backed securities it sold Sealink before they plummeted in value during the 2008 mortgage crisis.

  • January 23, 2012

    Ex-Capmark CEO Sued For $17M Over Stock Redemption Payments

    Capmark Financial Group Inc. on Monday launched an adversary suit against its former President and CEO William F. Aldinger III and related trusts, seeking recovery of approximately $16.7 million in stock redemption payments it made to him following his resignation.

  • January 23, 2012

    First American Cuts Down US Bank's Loan Insurance Suit

    A Minnesota federal judge on Monday tossed most of U.S. Bank NA's suit claiming First American Title Insurance Co. improperly denied $24 million in the bank's claims under a product sold as insurance for banks on home equity loans.

  • January 23, 2012

    Allstate's $700M Suit Doesn't Support BofA Claim: Judge

    A California federal judge on Monday suggested that Allstate Insurance Co.'s beefed-up lawsuit over its $700 million purchase of toxic mortgage-backed securities from Countrywide Financial Corp. still doesn't support a claim that Bank of America faces successor liability over the transaction.

  • January 23, 2012

    Goldman Wins Removal Of Thornburg Trustee's $19M Suit

    A Maryland federal judge moved a $19 million lawsuit claiming Goldman Sachs & Co. helped ruin defunct mortgage lender Thornburg Mortgage Inc. out of bankruptcy court on Monday after determining the claims brought by Thornburg's trustee weren't central to the bankruptcy proceedings.

  • January 23, 2012

    Developer Snags Troubled Phoenix Mall From Receivership

    A troubled mega-mall in Phoenix has sold for $12.2 million — a tiny fraction of its $155 million sale price in 2005 — according to a statement Monday from Rockwood Real Estate Advisors, which marketed the property for a court-appointed receiver after it floundered under private investor ownership.

  • January 23, 2012

    SEC Discovery Needed in Freddie Mac Class Action: Judge

    An Ohio federal judge said Monday that new information from the U.S. Securities and Exchange Commission's enforcement action against Freddie Mac must be considered in a separate securities fraud class action accusing the mortgage giant of concealing its exposure to subprime mortgages.

  • January 23, 2012

    Mortgage Fraudster Cops To Plotting To Kill Witness

    A former mortgage company executive convicted of orchestrating a loan scheme that cost major banks more than $100 million pled guilty Monday in New York to trying to hire a hit man to kill one of the witnesses who helped put him in prison.

  • January 23, 2012

    Latham Scoops Up Real Estate Vet From Allen & Overy

    An Allen & Overy LLP corporate real estate attorney who specializes in private equity real estate deals has joined Latham & Watkins LLP as a partner in the firm's New York office, Latham announced Monday.

  • January 23, 2012

    Dick's Exec Gets 3 Years For Kickbacks

    A New York federal judge last week sentenced a former Dick's Sporting Goods Inc. real estate executive to three years in prison and ordered him to forfeit nearly $1.5 million for a scheme in which he collected some $2 million in kickbacks from developers.

  • January 23, 2012

    WTC Building Could Be Stunted To 7 Stories

    As the deadline to lock in a tenant for 400,000 square feet of office space at 3 World Trade Center looms, developer Silverstein Properties Inc. still has no takers and is preparing for the possibility of stopping construction at seven floors, a person close to the matter confirmed Monday.

  • January 23, 2012

    TCC, PREI Partner On $1B Commercial Development Venture

    Trammell Crow Co., a subsidiary of commercial real estate giant CBRE Group Inc., and management firm Principal Real Estate Investors on Monday announced a new $1 billion joint venture to develop several office and industrial parks across the U.S.